48-17-204 - Shares held by nominees. - Tennessee Statutes

48-17-204. Shares held by nominees.

(a)  A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee is recognized by the corporation as the shareholder. The extent of this recognition may be determined in the procedure.

(b)  The procedure may set forth:

     (1)  The types of nominees to which it applies;

     (2)  The rights or privileges that the corporation recognizes in a beneficial owner;

     (3)  The manner in which the procedure is selected by the nominee;

     (4)  The information that must be provided when the procedure is selected;

     (5)  The period for which selection of the procedure is effective; and

     (6)  Other aspects of the rights and duties created.

[Acts 1986, ch. 887, § 7.23.]